• AUD/NZD is currently trading around 1.0697 marks.
   
• Pair made intraday high at 1.0720 and low at 1.0693 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.0754 levels.
   
• In addition, a sustained close above 1.0727 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
   
• Alternatively, reversal from key resistance will take the parity down towards key supports around 1.0655, 1.0497, 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.


• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
   
• Australia will release NAB business confidence data and China will release CPI data at 0130 GMT. Both data will provide further directions to the parity.